Ladder Capital Corp - Understand $LADR stock

$LADR Market Cap: $1.534 Billion

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Financial Snapshot

Revenue

$406.7M

TTM

Gross Margin

71.56%

TTM

Net Earnings

$98.99M

TTM

Current Assets

$1.217B

Q2 2024

Current Liabilities

$95.56M

Q2 2024

Current Ratio

1273.05%

Q2 2024

Total Assets

$5.048B

Q2 2024

Total Liabilities

$3.520B

Q2 2024

Book Value

$1.528B

Q2 2024

Cash

$1.196B

Q2 2024

P/E

15.50

Sep 06, 2024 EST

Free Cash Flow

$58.40M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Revenue	$407.3M	$293.5M	$176.1M	$239.8M	$330.2M	$344.8M	$263.7M	$236.4M	$241.5M	$187.3M	$121.6M	$136.2M	$225.1M	$186.8M
YoY Change	38.76%	66.68%	-26.58%	-27.37%	-4.23%	30.78%	11.55%	-2.14%	28.94%	54.08%	-10.73%	-39.49%	20.5%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Revenue	$407.3M	$293.5M	$176.1M	$239.8M	$330.2M	$344.8M	$263.7M	$236.4M	$241.5M	$187.3M	$121.6M	$136.2M	$225.1M	$186.8M
Cost Of Revenue	$245.1M	$195.6M	$182.9M	$227.5M	$204.4M	$194.3M	$146.1M	$120.8M	$113.3M	$77.60M	$48.70M	$36.50M	$35.80M	$48.90M
Gross Profit	$278.6M	$348.3M	$174.9M	$130.1M	$303.0M	$404.4M	$304.0M	$273.0M	$329.1M	$297.1M	$311.3M	$291.7M	$189.2M	$137.9M
Gross Profit Margin	68.4%	118.66%	99.32%	54.24%	91.75%	117.28%	115.3%	115.5%	136.25%	158.6%	256.05%	214.17%	84.05%	73.82%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Selling, General & Admin	$110.1M	$122.8M	$70.32M	$93.90M	$97.20M	$95.00M	$108.7M	$97.90M	$102.0M	$117.8M	$85.00M
YoY Change	-10.36%	74.6%	-25.11%	-3.4%	2.32%	-12.6%	11.03%	-4.02%	-13.41%	38.59%
% of Gross Profit	39.5%	35.25%	40.2%	72.18%	32.08%	23.49%	35.76%	35.86%	30.99%	39.65%	27.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$29.91M	$32.67M	$37.80M	$39.08M	$38.51M	$41.96M	$40.33M	$39.45M	$39.06M	$28.45M	$21.52M	$3.641M	$1.000M	$400.0K
YoY Change	-8.44%	-13.57%	-3.27%	1.47%	-8.22%	4.03%	2.24%	0.99%	37.31%	32.22%	490.97%	264.06%	150.0%
% of Gross Profit	10.74%	9.38%	21.61%	30.04%	12.71%	10.38%	13.27%	14.45%	11.87%	9.57%	6.91%	1.25%	0.53%	0.29%
Operating Expenses	$19.50M	$20.72M	$17.67M	$20.29M	$22.60M	$21.70M	$21.42M	$20.55M	$25.10M	$25.40M	$14.94M	$9.572M	$36.60M	$28.10M
YoY Change	-5.86%	17.22%	-12.92%	-10.18%	4.14%	1.28%	4.23%	-18.13%	-1.16%	70.03%	56.05%	-73.85%	30.25%
Operating Profit	$259.1M	$327.6M	$157.2M	$109.8M	$280.4M	$382.7M	$282.6M	$252.4M	$304.0M	$271.7M	$296.4M	$282.1M	$152.6M	$109.8M
YoY Change	-20.91%	108.35%	43.19%	-60.84%	-26.73%	35.43%	11.94%	-16.96%	11.89%	-8.32%	5.05%	84.88%	38.98%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Interest Expense	$245.1M	$195.6M	$182.9M	$227.5M	$204.4M	$194.3M	$146.1M	$120.8M	$113.3M	$77.57M	$48.75M	$36.44M	-$81.10M	-$20.70M
YoY Change	25.3%	6.92%	-19.57%	11.31%	5.18%	32.97%	20.93%	6.64%	46.06%	59.14%	33.77%	-144.93%	291.79%
% of Operating Profit	94.6%	59.71%	116.36%	207.16%	72.88%	50.77%	51.71%	47.86%	37.27%	28.55%	16.45%	12.92%	-53.15%	-18.85%
Other Income/Expense, Net	$127.1M	$251.1M	$181.7M	$140.0M	$174.7M	$250.3M	$186.5M	$163.3M	$201.2M	$189.2M
YoY Change	-49.37%	38.14%	29.86%	-19.87%	-30.23%	34.24%	14.18%	-18.84%	6.37%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Pretax Income	$104.7M	$170.2M	$57.82M	-$19.25M	$139.6M	$228.3M	$133.6M	$120.0M	$160.7M	$124.2M	$192.5M	$172.0M	$71.70M	$89.10M
YoY Change	-38.46%	194.38%	-400.42%	-113.78%	-38.84%	70.91%	11.29%	-25.3%	29.35%	-35.45%	11.87%	139.94%	-19.53%
Income Tax	$4.244M	$4.909M	$928.0K	-$9.789M	$2.646M	$6.643M	$7.712M	$6.320M	$14.56M	$26.61M	$3.730M	$2.584M	$1.500M	$600.0K
% Of Pretax Income	4.05%	2.88%	1.6%		1.89%	2.91%	5.77%	5.26%	9.06%	21.42%	1.94%	1.5%	2.09%	0.67%
Net Earnings	$100.5M	$165.3M	$56.89M	-$9.458M	$137.0M	$221.7M	$125.9M	$113.7M	$146.1M	$97.63M	$188.7M	$169.5M	$70.10M	$88.50M
YoY Change	-39.2%	190.55%	-701.53%	-106.9%	-38.2%	76.1%	10.69%	-22.18%	49.69%	-48.27%	11.38%	141.73%	-20.79%
Net Earnings / Revenue	24.68%	56.32%	32.31%	-3.94%	41.49%	64.29%	47.74%	48.11%	60.5%	52.12%	155.24%	124.42%	31.14%	47.38%
Basic Earnings Per Share	$0.81	$1.14	$0.46	-$0.13	$1.16	$1.85	$1.16	$1.08	$1.43	$0.90
Diluted Earnings Per Share	$0.81	$1.13	$0.45	-$0.13	$1.15	$1.84	$1.13	$1.06	$1.42	$0.86	$1.915M	$1.832M	$721.2K	$910.5K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Cash & Short-Term Investments	$1.016B	$609.1M	$548.7M	$1.254B	$58.20M	$67.90M	$76.70M	$44.60M	$109.0M	$76.20M	$78.70M	$43.80M	$83.40M
YoY Change	66.76%	10.99%	-56.25%	2055.33%	-14.29%	-11.47%	71.97%	-59.08%	43.04%	-3.18%	79.68%	-47.48%
Cash & Equivalents	$1.016B	$609.1M	$548.7M	$1.254B	$58.20M	$67.90M	$76.70M	$44.60M	$109.0M	$76.20M	$78.70M	$43.80M	$83.40M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$1.040B	$634.0M	$562.4M	$1.271B	$79.50M	$95.10M	$102.6M	$69.00M	$131.8M	$100.9M	$93.70M	$57.80M	$95.40M
YoY Change	64.02%	12.74%	-55.73%	1498.11%	-16.4%	-7.31%	48.7%	-47.65%	30.62%	7.68%	62.11%	-39.41%
Property, Plant & Equipment	$726.4M	$651.0M	$787.7M	$894.1M	$949.7M	$998.0M	$1.032B	$822.3M	$834.8M	$769.0M	$624.2M	$380.0M	$28.80M
YoY Change	11.59%	-17.36%	-11.9%	-5.85%	-4.84%	-3.29%	25.5%	-1.5%	8.56%	23.2%	64.26%	1219.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$492.4M	$593.7M	$726.4M	$1.136B	$1.831B	$1.508B	$1.220B	$2.232B	$2.550B	$2.936B	$1.745B	$1.217B	$2.010B
YoY Change	-17.07%	-18.27%	-36.03%	-37.99%	21.41%	23.65%	-45.35%	-12.45%	-13.17%	68.32%	43.38%	-39.47%
Other Assets	$15.45M	$50.52M	$97.98M	$29.90M	$297.6M	$30.60M	$106.0M			$0.00
YoY Change	-69.42%	-48.43%	227.7%	-89.95%	872.55%	-71.13%
Total Long-Term Assets	$4.473B	$5.317B	$5.289B	$4.611B	$6.590B	$6.178B	$5.923B	$5.509B	$5.763B	$5.713B	$3.395B	$2.571B	$2.559B
YoY Change	-15.88%	0.53%	14.71%	-30.03%	6.67%	4.3%	7.51%	-4.41%	0.88%	68.27%	32.06%	0.48%
Total Assets	$5.513B	$5.951B	$5.851B	$5.881B	$6.669B	$6.273B	$6.026B	$5.578B	$5.895B	$5.814B	$3.489B	$2.629B	$2.654B
YoY Change
Accounts Payable					$1.600M	$1.600M	$1.700M	$2.500M	$1.900M	$900.0K
YoY Change					0.0%	-5.88%	-32.0%	31.58%	111.11%
Accrued Expenses	$65.14M	$84.23M	$41.25M	$43.90M	$72.40M	$82.40M	$59.60M	$66.60M	$78.10M	$92.00M	$64.40M	$19.30M	$19.00M
YoY Change	-22.66%	104.19%	-6.04%	-39.36%	-12.14%	38.26%	-10.51%	-14.72%	-15.11%	42.86%	233.68%	1.58%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$97.44M	$116.2M	$68.84M	$71.40M	$112.7M	$121.3M	$91.80M	$93.80M	$97.50M	$92.90M	$64.40M	$19.30M	$19.00M
YoY Change	-16.17%	68.84%	-3.59%	-36.65%	-7.09%	32.14%	-2.13%	-3.79%	4.95%	44.25%	233.68%	1.58%
Long-Term Debt	$3.784B	$4.246B	$4.220B	$4.210B	$4.860B	$4.453B	$4.380B	$3.942B	$4.275B	$4.183B	$2.215B	$1.485B	$1.616B
YoY Change	-10.88%	0.62%	0.23%	-13.37%	9.15%	1.66%	11.1%	-7.78%	2.19%	88.86%	49.18%	-8.1%
Other Long-Term Liabilities	$99.10M	$55.69M	$49.09M	$51.50M	$57.70M	$55.40M	$65.80M	$32.80M	$31.60M	$33.20M	$24.50M	$23.90M	$30.70M
YoY Change	77.95%	13.44%	-4.68%	-10.75%	4.15%	-15.81%	100.61%	3.8%	-4.82%	35.51%	2.51%	-22.15%
Total Long-Term Liabilities	$3.883B	$4.301B	$4.269B	$4.261B	$4.918B	$4.508B	$4.446B	$3.975B	$4.306B	$4.216B	$2.239B	$1.509B	$1.646B
YoY Change	-9.73%	0.76%	0.17%	-13.34%	9.09%	1.4%	11.84%	-7.7%	2.14%	88.27%	48.44%	-8.36%
Total Liabilities	$3.980B	$4.418B	$4.344B	$4.338B	$5.211B	$4.828B	$4.791B	$4.607B	$5.067B	$5.029B	$2.313B	$1.528B	$1.666B
YoY Change	-9.92%	1.7%	0.14%	-16.75%	7.94%	0.77%	3.99%	-9.08%	0.76%	117.44%	51.32%	-8.23%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Basic Shares Outstanding	124.7M shares	124.3M shares	123.8M shares	112.4M shares	105.5M shares	97.23M shares	81.90M shares	62.00M shares	51.70M shares	49.30M shares
Diluted Shares Outstanding	124.9M shares	125.8M shares	124.6M shares	112.4M shares	106.4M shares	97.65M shares	109.7M shares	107.6M shares	51.87M shares	97.58M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Dividends

Stock Price

Market Cap: $1.5344 Billion

About Ladder Capital Corp

Ladder Capital Corp. is a holding company, which engages in the provision of commercial real estate finance services. The company is headquartered in New York City, New York and currently employs 59 full-time employees. The company went IPO on 2014-02-06. The firm's segments include loans, securities, and real estate. The loans segment includes mortgage loan receivables held for investment (balance sheet loans) and mortgage loan receivables held for sale (conduit loans). The securities segment is composed of all of the Company’s activities related to commercial real estate securities, which include investments in commercial mortgage-backed securities (CMBS), United States Agency Securities, corporate bonds and equity securities. The real estate segment includes net leased properties, office buildings, student housing portfolios, hotels, industrial buildings, a shopping center and condominium units. Corporate/other includes the Company’s investments in joint ventures, other asset management activities and operating expenses. The company invests primarily in senior first mortgage fixed and floating rate loans collateralized by commercial real estate with flexible loan structures.

Industry: Real Estate Investment Trusts Peers: Annaly Capital Management Inc Apollo Commercial Real Estate Finance Inc Arbor Realty Trust Inc Franklin BSP Realty Trust Inc Chimera Investment Corp Claros Mortgage Trust Inc KKR Real Estate Finance Trust Inc PennyMac Mortgage Investment Trust Ready Capital Corp Two Harbors Investment Corp